113 Hickory Dr · New Albany, MS 38652

$139,900

2 bd · 1.0 ba · 992 sqft · SingleFamily public records · 43 Days on market

Built 1970 0.50 ac lot $141/sqft · 13% below area Est $172k · 19% under

---

Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• DSCR +4.0/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and move-in ready home located just west of town in New Albany! Perfect as a starter home or for those looking to downsize, this adorable 2 bedroom, 1 bath property offers an inviting open floor plan with a spacious kitchen and an oversized dining area--ideal for gatherings. A back door leads from the dining space onto a back deck overlooking the above-ground pool, creating a great spot for outdoor entertaining. Recent updates include new interior paint and beautifully redone flooring. Situated on a large lot, this property also features a single attached carport and a large shop, providing excellent storage and workspace. Cute as a button and ready for its new owner! Information is deemed reliable but is not guaranteed.

Key facts

• Open floor plan
• Recent updates
• Spacious kitchen

Tags

• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• OVERSIZED DINING AREA
• BACK DECK
• ABOVE-GROUND POOL
• RECENT UPDATES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $0 ($1/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (22.4% below list).
• Recommended offer: $109k (22.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#13 in MS, #4,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A-; Watch: employment D+, amenities F, commute F.
• New Albany Public Schools (rural): math 51% / reading 43% proficiency, ranked #22 of 130 in MS (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: New Albany Elementary School (math 51% / reading 48%, grade D, #65 of 375 statewide, top 20%, 1,048 students, 100% FRL); New Albany Middle School (math 47% / reading 35%, grade F, #56 of 179 statewide, top 33%, 482 students, 99% FRL); New Albany High School (math 67% / reading 57%, grade B-, #5 of 197 statewide, top 3%, 584 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 157 active listings in the ZIP; 17 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Union County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,552 (22.4% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 6.29%
• Cash-on-cash: 0.00%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (median comp): $171,862
• List price: $139,900
• Delta: -18.60%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-22,713
• Equity at exit: $20,860

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-19,975
• Equity at exit: $12,096

Cash invested: $39,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Mississippi: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; very landlord-favorable; no rent control.

Methodology + full state rankings →

ZIP-level market 38652

• Home prices YoY: -34.5%
• Active inventory: 157
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,086 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$65 /mo · $786/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $0

Break-even live

Break-even rent $1,085

Max offer price $139,900

Occupancy floor 95%

Sensitivity live

Price	-10% $79	-5% $40	+0% $0	+5% $-39	+10% $-79
Rent	-10% $-86	-5% $-43	+0% $0	+5% $43	+10% $86
Rate	-1.0pp $71	-0.5pp $36	base $0	+0.5pp $-36	+1.0pp $-73

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-09
   status $139,900 Pending 43 DOM
2. 2026-06-08
   days on market $139,900 Active 43 DOM
3. 2026-06-07
   days on market $139,900 Active 42 DOM
4. 2026-06-07
   days on market $139,900 Active 41 DOM
5. 2026-06-04
   days on market $139,900 Active 38 DOM
6. 2026-06-02
   days on market $139,900 Active 37 DOM
7. 2026-06-01
   days on market $139,900 Active 36 DOM
8. 2026-05-31
   days on market $139,900 Active 35 DOM
9. 2026-05-05
   status Active 739-char remark

   Show marketing remark (739 chars)

   Charming and move-in ready home located just west of town in New Albany! Perfect as a starter home or for those looking to downsize, this adorable 2 bedroom, 1 bath property offers an inviting open floor plan with a spacious kitchen and an oversized dining area--ideal for gatherings. A back door leads from the dining space onto a back deck overlooking the above-ground pool, creating a great spot for outdoor entertaining. Recent updates include new interior paint and beautifully redone flooring. Situated on a large lot, this property also features a single attached carport and a large shop, providing excellent storage and workspace. Cute as a button and ready for its new owner! Information is deemed reliable but is not guaranteed.

10. 2026-03-09
    status Active 739-char remark

    Show marketing remark (739 chars)

    Charming and move-in ready home located just west of town in New Albany! Perfect as a starter home or for those looking to downsize, this adorable 2 bedroom, 1 bath property offers an inviting open floor plan with a spacious kitchen and an oversized dining area--ideal for gatherings. A back door leads from the dining space onto a back deck overlooking the above-ground pool, creating a great spot for outdoor entertaining. Recent updates include new interior paint and beautifully redone flooring. Situated on a large lot, this property also features a single attached carport and a large shop, providing excellent storage and workspace. Cute as a button and ready for its new owner! Information is deemed reliable but is not guaranteed.

11. 2026-02-27
    listed $139,900 Active 739-char remark

    Show marketing remark (739 chars)

    Charming and move-in ready home located just west of town in New Albany! Perfect as a starter home or for those looking to downsize, this adorable 2 bedroom, 1 bath property offers an inviting open floor plan with a spacious kitchen and an oversized dining area--ideal for gatherings. A back door leads from the dining space onto a back deck overlooking the above-ground pool, creating a great spot for outdoor entertaining. Recent updates include new interior paint and beautifully redone flooring. Situated on a large lot, this property also features a single attached carport and a large shop, providing excellent storage and workspace. Cute as a button and ready for its new owner! Information is deemed reliable but is not guaranteed.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $786 · $65/mo
• Projected year-2 tax: $1,105 · $92/mo
• Expected delta: +$319/yr (+$27/mo · 40.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,026
• − Mortgage interest: −$7,837
• − Property taxes: −$786
• − Insurance: −$700
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$4,070
• Taxable loss: −$2,450
• Est. tax savings @ 24.0%: +$588
• After-tax cash flow: $589/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Albany Public Schools
• NCES district ID: 2803120
• Math proficiency: 51% ▼ -13.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $37,325
• Composite: 39.13/100
• National rank: #4037
• State rank: #22 of 130 in MS

Livability — New Albany

• Score: 74/100
• State rank: #13
• US rank: #4449

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing B+ Health & safety A- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Albany, MS
• City population: 15,540
• Population (ZIP): 15,540

Population outlook (Union County) Hauer SSP2

• Today (2025): 30,992 people
• By 2030: 32,294 · +4.2%
• By 2040: 34,789 · +12.3%
• By 2050: 36,987 · +19.3%
• By 2075: 40,835 · +31.8%
• By 2100: 40,538 · +30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 20% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Union

• 2024 margin: Solid R (+70.1) · D 14.5% · R 84.6%
• 2008→2024 swing: -20.2pp toward R · 2008: -49.9pp · 2024: -70.1pp
• All cycles: 2024: R+70.1 2020: R+64.8 2016: R+63.2 2012: R+51.0 2008: R+49.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.75%
• Current HPI: 153.1381
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-05-05 Relisted — NEMSBD
• 2026-03-09 Relisted — NEMSBD
• 2026-02-27 Listed $139,900 NEMSBD

Property tax history

+10.3%/yr

Latest (2025): $786 · +2.8% YoY. Source: county tax records.